This is our April 2020 Santa Clara County probate property sales activity report. The data consists of properties sold in probate and homes sold in trusts. There were no conservatorship sales in the month of April.
There is a legal process an executor and administrator must follow to administer an estate. The process includes, among many other things, how to sell a probate property.
This report is comprised of statistical data from April 1, 2020, through April 31, 2020, extracted from MLS Listings “MLS” as of April 1, 2020.
The data includes single-family homes, condominiums, and townhouses and may not include “off-market” sales. On “off-market” sale is when the property is sold without listing on the Multiple Listing Service.
Santa Clara County Probate Property Sales Activity in April 2020
The breakdown of the market activity is as follows:
- There were 6 homes listed Active
- 5 single-family homes
- 1 condominium
- 6 probate properties
- There were 10 pending sales (under contract)
- 9 single-family homes
- 1 townhouse
- 8 probate properties
- 2 trust properties
- There were 2 homes sold
- 2 single-family homes
- 2 probate sales
DISCLAIMER: All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Court has been closed for several months due to COVID-19. Administration of Estates hearings that were on the court calendar got continued. Although new petitions are getting E-filed, hearing dates are not being set until the court opens or cases are heard remotely via Court Call.
Letters must be issued before an executor or administrator can hire a probate agent to sell a home. We expect over the next couple of months the number of sales will continue to decline until the court can move the cases through the system.
Read more about Covid-19 Impact on Probate Real Estate.
Lowest Priced Home Sold
The lowest-priced property sold was a single-family home located in San Jose in the 95116 zip code. The 105-year-old home has 4 bedrooms, 2.5 bathrooms, and 1,168 square feet of living space and a 5,135 square foot lot. It listed for sale on March 5, 2020. The list price was $750,000. The sale was reported pending on March 13, 2020. Escrow closed April 15, 2020. The final sales price reported was $805,000, $55,000 above the list price.
Highest Priced Home Sold
The highest-priced property sold was a single-family home located in the Blossom Valley area of San Jose in the 95123 zip code. The home has 4 bedrooms, 2 bathrooms, approximately 1,495 square feet of living space on a 6,095 square-foot lot. The home is 52 years old.
The home listed on March 2, 2020. List price $974,500. The MLS reported pending status on March 12, 2020. On April 22, 2020, it was reported sold. The final sales price reported was $1,017,000, $42,500 above the list price. The buyer had conventional financing.
Probate Sale Commission
Probate real estate agent commission is offered in the Multiple Listing Service and paid by the seller to the selling broker.
The process for an executor or administrator selling a probate property in Santa Clara County starts with the attorney filing a petition for probate following Santa Clara Superior Court Local Rules. The process is administered by the Santa Clara County Superior Court, Probate Division, Department 13.
At the hearing, the petitioner asks for authority from the court to administer the estate. The authority granted by the court depends upon if the person died with a Will, or Intestate without a Will, and if Full Authority is granted under the Independent Administration of Estates Act or IAEA. If full authority is granted we typically have a probate sale without court confirmation.
Having the full authority to act does not mean that the process is easy or can be accomplished quickly. Read our page How long does probate take in California to learn more about the time frame.
There are reasons the probate judge may not grant full authority. There are also cases that proceed with the California probate sale overbid process.
Successor Trustee Selling a Home
When a successor trustee sells a home held in trust, as a certified trust specialist, it is our best practice to confirm the title to the real property is titled in the trust. We also confirm the representative capacity of the person selling the home. Once we get all of the necessary documents we can execute a listing agreement and open escrow.
There are some seller disclosure exemptions when selling a home in a trust. We go over the process with our clients upfront to ensure they understand what is expected of them as well as all of the details we manage.
We are real estate specialists in probate property sales. That means selling probate properties, trust homes, and property under conservatorship. Over the years we have helped many executors and successor trustees sell homes.
Understanding the challenges people face, we know a higher level of service is needed when representing an estate. That is why we focus on high-touch service versus a high volume of sales.
Experience does make a difference. Kathleen Daniels, Broker, CPRES, has extensive probate Realtor training. The core of her business is probate real estate sales.
The number of clients we work with are limited to ensure we can provide all clients with the highest level of representation. Working with out-of-state and out of area clients requires more time.
We track probate property sales in Santa Clara County probate court because it is important that we keep current keeping our fingers on the pulse of the Santa Clara County Probate market.
When you need help, call Certified Probate Real Estate Agent, Kathleen Daniels at 408-972-1822, or contact us and request a consultation.